SOURCE: Rotate Black, Inc.
PETOSKEY, MI--(Marketwire - Oct 15, 2012) - Rotate Black, Inc. (PINKSHEETS: ROBK) formally announces the formation of SlotOne, LLC ("SlotOne"), the Company's gaming equipment division which will focus on leveraging the Company's extensive industry experience in placing and operating slot machines in existing casinos.
Stemming from the Company's successful consulting agreement and the gaming industry's focus on increasing earnings, SlotOne is uniquely qualified to identify deficiencies in existing slot floor plans, retool those plans and make changes in slot equipment to increase overall revenue and earnings for the casino.
SlotOne has secured its first test contract for the placement of 50 slot machines and looks to expand its operations to 2,000 machines over the next 24 months. "SlotOne is an exciting new opportunity for our business as we have the potential to place a significant number of machines, which will provide us consistent cash flow without the long lead times of our other development strategies," said Dual Cooper, President and COO of Rotate Black, Inc.
The SlotOne business model involves the acquisition of gaming equipment, the placement of that equipment in existing casinos and deriving an ongoing revenue stream from those placed slot machines. SlotOne's current contract calls for a payment equal to 20% of the gaming devices win per unit. Our competitive advantage lies in our unique ability to spot shortfalls in existing slot floor plans and acquire the optimal replacement equipment cost effectively without being obligated to any one vendor.
About Rotate Black
Rotate Black, Inc. is a premier gaming and resort manager and developer based in Petoskey, MI. The Company's team boasts over 100 years of gaming experience managing and developing casino resorts around the world. For further information, contact Jeff Bacigalupi, CFO, at 231-347-0777.
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Rotate Black, Inc. disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date stated, or if no date is stated, as of the date of this press release.